Let's make a checklist of everything we should be doing to prepare for the economic meltdown that is underway.
It'll be tough to do alright during the mess. Many posting here will lose their jobs or source of income, possibly me included. So I don't think anyone is rooting for the disaster.
The question is, how to best prepare. Preserve the capital you do have. And if there is a way to generate income (i.e. gold gains?) let's hash it out. I'm ready to make some new moves - too much US cash on my balance sheet.
April 05, 2006
Don't own any real estate. Check. Renting. Check. Own gold. Check.
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Buy a camcorder. Videotape the subdivisions where every house is for sale with reduced signs in the front . Take pictures of the rows of SUVs parked with FOR SALE or FREE signs in them when gas prices jump to $4.99/gal. Record news clippings from CNBC, CNN, and other sources to show to your kids. Be sure and pull them out when the same thing happens again in 10 years and people proclaim "it will be different this time".
If we do not learn from the past we are doomed to repeat the same mistakes.
Learn how to become a meth cook. This vital skill will keep you employed through the worst of it. Most of all you will be a valued community member and a vital part of the new economy.
Because of the Hb I have leveraged equity into gold and silver. I would encourage one to visit:
aftertheoilcrash.net
I do not believe I will EVER have the opportunity to pay down my house, retire, or see my kids graduate from college.
The oil crash is happening NOW folks...the housing bubble, avian flu, global warming, crashing dollar,WWIII are all just a result of TOO many people only the planet. Maybe my leveraged PMs can buy my families way out of a FEMA "detention" center...
I've been buying gold and silver on the dips for the last 6 months. my goal is to have half my cash moved over to gold and silver within the next 6 months. I might have to move my plan up quite a lot based on the next government housing data report.
"my goal is to have half my cash moved over to gold and silver within the next 6 months"
Most experts say around 20%, you should ask yourself! What If?
US will do everything possible to prop up and hold the dollar. I am very like minded but 1/2 is a pretty big deal.
Don't forget energy sector ladies...
Why don't you take all your money and short gold if you really believe it is peaking. Put your money where your mouth is or STFU
What's wrong with owning real estate? I can buy a two-bedroom condo and pay $1100/mo in mortgage+taxes+fees on a 30yr fixed-rate loan or I can pay $900/mo to rent an apartment that is smaller.
I moved out of florida in september and bought on smith lake in alabama, prices have just begun to go up here. Put quite a bit of money in slw and silver bars. life is good! I also like living in a house, no way i'm living in an apt, if i don't have too.
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